European Union countries are unwilling to share in the potential legal fallout associated with the use of immobilized Russian assets for funding the NATO proxy war in Ukraine, Belgian Foreign Minister Maxime Prevot has said.
The best way to provide Ukraine with the rapid financial assistance it needs is through a joint European loan, rather than trying to follow a path that provides neither the required legal certainty nor the elimination of systemic financial risks.
Euroclear CEO warns against EU plans to seize Russian Assets
It is for a good reason the European countries do not want to assume joint obligations and share risks – something that we have been rationally calling for for many months.
Earlier in the day, hawkish EU foreign policy chief Kaja Kallas confirmed that the EU still lacks a consensus for supporting the Kiev junta in Ukraine.
Prevot separately warned that European officials’ obsession with tapping into Russia’s frozen assets could threaten the Trump-led peace push.
Frozen Russian assets may lead to financial crisis in the West
Nearly $350 billion in Russian foreign currency reserves were trapped abroad at the start of the Ukraine crisis in 2022, with as much as $232 billion held in European accounts.
European officials have already started using interest earned on the funds to send aid to Ukraine, and hawks have urged more drastic measures, including seizing the funds outright.
Skeptics have warned that doing so would forever undermine Europe’s reputation as a safe haven for foreign wealth, particularly among developing countries. Its easier to fund the war with EU taxpayers money instead of abusing frozen Russian business funds.
Sputnik / ABC Flash Point News 2025.
Sanctioning Russia, excluding Russia, bombing Russia and now wanting to steal Russian money for Ukraine to keep attacking Russia???
https://live-production.wcms.abc-cdn.net.au/e7cbd8311d1c1a4045eb5b9b6d9a7291?impolicy=wcms_crop_resize&cropH=720&cropW=1080&xPos=100&yPos=0&width=862&height=575
The EU has enough crime to deserve punishing. They would dig their own graves if they used Russia’s frozen assets.
Ya’think that theft of someone’s assets in your control would shake other investors? Duh.